Airport Electric Vehicle Charging Station Market Size Forecasted to Grow at 23.3% CAGR, Reaching USD 1.4 Billion By 2031

According to the report, the global airport electric vehicle charging station industry generated $0.18 billion in 2021, and is anticipated to generate $1.4 billion by 2031, witnessing a CAGR of 23.3% from 2022 to 2031.

Surge in the production of electric vehicles and a rise in the adoption of electric vehicles, owing to government initiatives drive the growth of the global airport electric vehicle charging station market. However, the high cost of electric vehicle charging infrastructure, and the lack of standardization of current EV charging infrastructure restrict the market growth. Moreover, the incorporation of vehicle-to-grid (V2G) EV charging stations presents new opportunities in the coming years.

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Increasing sales of EVs globally and growing demand for zero-emission transport. Increasing advances in communication technology, such as real-time information on all-electric vehicle charging stations for smart connectivity are driving the growth of the airport electric vehicle charging station market. Moreover, By mode of charging, the plug-in charging segment incurs a higher share. By charging level, the level 2 segment dominates the airport electric vehicle charging station market in 2021, in terms of revenue. By product type, the standing type segment gains a higher share. At present, North America is the highest revenue contributor, followed by Europe.

An Electric Vehicle (EV) charging station at an airport is a device that connects a battery-powered vehicle to a source of electricity, permitting electric cars, neighborhood EVs, and plug-in hybrids to be charged. Some charging stations provide enhanced features like smart metering, cellular connectivity, and network connectivity, while others are simpler. In addition, electric vehicle charging station provides different types of charging levels such as level 2, and level 3. Moreover, electric vehicle charging stations have multiple configurations such as wall-mounted or free-standing, single charging head or multi-head, and wireless.

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EV charging station providers also facilitate cloud-based app connectivity to help EV owners find nearby charging stations and charge easily. It also serves the purpose of building an extensive electric vehicle charging network. Therefore, it gives EV charging stores a great incentive along with profitability. Many of domestic and international airports are in the process of installing EV chargers in both daytime and long-term parking lots. Mumbai's Chhatrapati Shivaji Maharaj International Airport (CSMIA), for example, has installed six robust DC fast charging stations for electric vehicles in Terminals 1 and 2.

In addition, the electric vehicle charging industry is a dynamic industry with a wide range of applications. Government initiatives of several countries around the world are playing an important role in the development of electric vehicle charging stations. For instance, in the U.S., the government plays a key role by providing the necessary standards and funding for the development of electric vehicle charging stations at public parking including airports. Similarly, the Chinese central government has approved the development of fast charging stations through national guidelines.

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Based on region, North America held the highest market share in terms of revenue in 2021, accounting for more than two-fifths of the global airport electric vehicle charging station market, and is likely to dominate the market during the forecast period. This is due to leading automobile manufacturers who are planning the deployment of huge electric vehicle charging infrastructure at airports in many countries of the region. However, the Asia-Pacific region is expected to witness the fastest CAGR of 26.7% from 2022 to 2031. Increase in vehicle population and rises in vehicle standards fuel the growth of the airport electric vehicle charging station market in the region.

Leading Market Players: -

Blink Charging Co.,
Delta Electronics, Inc.,
General Electric Company,
Siemens AG,
Eves LLC,
Plugless Power Inc.,
ABB Ltd.,
Electroair OU,
WEBASTO GROUP,
Ningbo Dekon New Energy Co., Ltd.

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